BG - Finacity Facilitates Increase and Expansion of Accounts Receivable Securitization Program to $1.5 Billion with a $1 Billion Accordion Feature for Bunge | Benzinga
STAMFORD, Conn., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Finacity Corporation ("Finacity"), a White Oak Company, today announced that it has facilitated an increase from $1.1 billion to $1.5 billion of the commitment capacity, with an accordion feature of an additional $1 billion, for the Accounts Receivable Securitization Program ("Program") of Bunge Global SA ("Bunge"), a leading global agribusiness and food company. As part of the process, Finacity also supported the addition of 2 new seller countries, Mexico and Poland, and 7 new subsidiary company originators for Bunge in its Program. Pricing for the Program includes premiums or discounts to the applicable margin tied to certain sustainability criteria, including, but not limited to, science-based targets (SBTs) that define Bunge's climate goals within its operations and a ...